ROCKVILLE Md., March 08, 2022 (GLOBE NEWSWIRE) -- As per Fact.MR, a market research and competitive intelligence provider, over the past half-decade, global market value for sports nutrition grew at a CAGR of around 7.1%, mainly driven by increased need for nutrition in the sports industry.
The global sports nutrition market report indicates that sales of overall sports nutrition enjoyed year-on-year (YoY) growth of 5.3% in 2021. Fact.MR estimates that the sports nutrition market accounted for US$ 15.8 Bn in 2021, and is expected to witness a prominent CAGR of 7.9% over the decade.
Sports nutrition products are specialized nutrition products that are designed to boost performance and increase recovery speeds during and after sports activities such as athletics, workouts, or bodybuilding.
| Sports Nutrition Market Size in 2020 | US$ 15 Bn |
| Market Forecasted Value for 2031 | US$ 33.8 Bn |
| Global Market Growth Rate (2021 to 2031) | 7.9% CAGR |
| Market Share of Top 10 Sports Nutrition Providers | 50%-55% |
“The sports nutrition market is evolving significantly as a result of new consumer expectations. In terms of product offerings, the market is becoming more segmented, but is also growing. This is why agri-food and nutrition brands that are already aimed at mass-market consumers want to join them in this new territory with a more suitable product offering, which is typically protein-enriched alternatives,” says a lead analyst at Fact.MR.
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Top Sports Nutrition Companies
The global sports nutrition industry showcases a very promising growth trajectory owing to growing interest shown by multiple food & beverage companies such as Nestlé, Coca-Cola, Keurig Dr. Pepper, and Ajinomoto. Over the past decade these companies have heavily invested and partnered with several sports nutrition product manufacturers, making them tier-1 companies in the market.
In January 2020, Keurig Dr. Pepper acquired Limitless Sparkling Water, which is calorie-free and sugar-free drink and contains 35 milligrams of caffeine in a variety of fruit flavors.
Recent developments related to companies offering in sports nutrition business have been tracked by the team at Fact.MR, which are available in the full report.
Regional Analysis of sports nutrition products Market -
- In 2021, sales of sports nutrition products in North America are expected to be valued at US$ 5.56 Bn, accounting for approximately 35.3% of global sales.
- Growing number of health clubs & fitness centres and emergence of online fitness classes in the U.S. is driving demand for sport nutrition. Students, fitness freaks, sports enthusiasts, and consumers from high-demand professions account for a sizable portion of the market.
- The North America market is anticipated to witness a high CAGR of 6.3% over the forecast period, owing to increased demand for sports nutrition from fitness club and sports clubs.
- The U.S. market is dominating the North America market with a share of more than 85% in 2021; however demand for ready-to-drink sport nutrition products in Canada is expected to witness significant growth over the forecast period.
- In 2021, India had a market share of 42.7% in South Asia, while the demand for sports nutrition powder in Singapore is expected to witness a significant CAGR of 11.6% through 2031.
- Market size of sports nutrition in China is estimated to account for a value of US$ 900 Mn in 2021; however, consumption of sports nutrition products in Japan is expected to increase at 8.1% CAGR over the forecast period.
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Market Segments Covered in Sports Nutrition Industry Research
By Ingredient Type
Plant-derived Protein
- Soy Protein
- Rice Protein
- Pea Protein
- Potato Protein
Animal-derived Protein
- Creatine
- Milk Protein
- Whey Protein Concentrates
- Whey Protein Isolates
- Casein
- BCAA
Blends
By Nature
- Organic Sports Nutrition
- Conventional Sports Nutrition
By Form
- Ready-to-Drink Sports Nutrition Products
- Energy & Protein Bars
- Sports Nutrition Powder
- Sports Nutrition Tablets/Capsules
By Function
- Energizing Products
- Rehydration
- Pre-workout
- Recovery
- Weight Management
By Flavor
- Regular Sports Nutrition Products
- Flavored Sports Nutrition Products
- Fruit Punch
- Berries
- Citrus
- Chocolate
- Vanilla
- Other Flavors
By Sales Channel
- B2B Sales of Sports Nutrition Products
- B2C Sales of Sports Nutrition Products
- Hypermarkets/Supermarkets
- Convenience Stores
- Specialty Stores
- Drug Stores
- Online Retail Stores
- Other Sales Channels
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Flavor Dynamism in Sport Nutrition Products Propelling Market Growth
In the sports nutrition market today, the need for fresh and distinctive flavours is skyrocketing. Customers are more inclined to choose a product with a unique and enhanced flavour when purchasing it. The flavour of the supplement is the most important factor in a consumer's decision.
Manufacturers of sports nutrition products are concentrating on creating products with innovative, unique, and popular flavour ingredients, as well as providing a diverse choice of flavoured supplements. Flavor is quickly becoming one of the most important characteristics of sports nutrition products.
Covid-19 Impact Analysis
- Sports nutrition industry was severely negatively impacted by the pandemic owing to closure of gyms and fitness centers due to lockdowns
- With people becoming more concerned regarding their health, use of natural and clean label products is likely to gain high traction.
- In the post COVID-19 scenario, a greater inclination toward health and fitness and reopening of gyms and fitness centers will further aid in market expansion.
According to Fact.MR, sales of energy & protein bars in the U.K. are estimated to account for 20% of the overall Europe market in 2021, but demand for weight management sports nutrition in France is anticipated to drive market growth there.
In 2021, the flavoured sports nutrition segment accounted for approximately 55.5% of the global market, and is also expected to rise at a CAGR of 9% during the forecast period. Rising demand for flavoured sports nutrition products and increased product launches with various innovative flavors are boosting overall flavoured sports nutrition product sales.
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Key Benefits For Stakeholders
- The report provides an extensive analysis of the current and emerging sports nutrition market trends and opportunities.
- The report provides detailed qualitative and quantitative analysis of the current trends and future estimations that help evaluate the prevailing sports nutrition market opportunities in the market.
- The sports nutrition market forecast is offered along with information related to key drivers, restraints, and opportunities.
- The market analysis is conducted by following key product positioning and monitoring the top competitors within the market framework.
- The report provides extensive qualitative insights on the potential and niche segments or regions exhibiting favorable growth.
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